SEOUL, Japan’s antitrust regulator has approved a 1.8 trillion-won (US$1.34 billion) merger deal between Korean Air Co. and Asiana Airlines Inc., according to the companies Wednesday, moving the merger process between South Korea’s two full-fledged air carriers one step further.
According to Korean Air, the Japan Fair Trade Commission (JFTC) approved the company’s business combination with Asiana Airlines earlier in the day, marking a significant milestone in the two airlines’ merger process.
In November 2020, Korean Air signed the deal to acquire a controlling stake in Asiana to create the world’s 10th-biggest airline by fleet.
For the merger to be finalized, the airlines must win approval from competition regulators in key markets.
The companies have so far won approval from 12 countries and are waiting for approval from the European Union and the United States.
Source: Yonhap News Agency